Question: Sellers are sometimes a pain. I have future listing of a Million dollar property, highly in demand, and I have a list of clients want to buy when it goes on market. Two owners of a property. Joint owners, no written contract of “Right of Refusal” or on title. Not even sure it has to be in writing as yet. “A” wants to sell the property. “B” wants to buy it but is putting it off for unknown reasons. “A” wants to market it. “A & B” are willing to sign listing agreement, thinking “B” has “right of refusal”. “A” is thinking this will make “B” make up his mind to buy. Also, “A” says by getting an offer, he accomplishes two objectives: 1. Upon offer he knows amount to sell to “B”. 2. Gets the property sold. This sounds a bit unethical to me, especially for the buyers. What are your thoughts?
If there is no “right of first” in the deed then it would be really tough for B to hold A to it (statute of frauds?) with nothing on paper. I agree with the unethical part…one party using it as sone perceived leverage on the other. Getting it listed, then actually having other parties make offers will cut through a lot of their nonsense!
Ha! I’ve been camo a long time...usually Real Tree. I appreciate your taking time to watch and comment. Been slow getting new vids up the last couple weeks. Will get it done soon. Hey, speaking of camo, shoot me your shipping address and I’ll send you a hat. Just email your name and address to office@RecLand.net. Don’t worry about getting on a list. Won’t happen. Have a nice weekend!
Very good
Thank you
Wow this was exactly what I was looking for! Thanks you!
That was an old one! Thanks for watching and commenting. Happy New Year!
This video is almost 4 years old and it was the most helpful explanation that I could find. Thanks!
Thanks for watching. Sorry for the quality back then! Have a good week.
Best video on this topic after watching 10.
Thanks for watching. Wish it was better quality! Appreciate the positive feedback!
Say it’s on a Friday and it’s a 48 hr ROFR does the time go through the weekend or only business days?
Ha! 48 hours would be a quick time term for sure!
Question: Sellers are sometimes a pain. I have future listing of a Million dollar property, highly in demand, and I have a list of clients want to buy when it goes on market. Two owners of a property. Joint owners, no written contract of “Right of Refusal” or on title. Not even sure it has to be in writing as yet.
“A” wants to sell the property. “B” wants to buy it but is putting it off for unknown reasons.
“A” wants to market it. “A & B” are willing to sign listing agreement, thinking “B” has “right of refusal”.
“A” is thinking this will make “B” make up his mind to buy. Also, “A” says by getting an offer, he accomplishes two objectives: 1. Upon offer he knows amount to sell to “B”. 2. Gets the property sold.
This sounds a bit unethical to me, especially for the buyers. What are your thoughts?
If there is no “right of first” in the deed then it would be really tough for B to hold A to it (statute of frauds?) with nothing on paper. I agree with the unethical part…one party using it as sone perceived leverage on the other. Getting it listed, then actually having other parties make offers will cut through a lot of their nonsense!
the only video that helped me understand right of first refusal....you deserve so much subs
I appreciate that! Thanks for taking time to watch the video and comment. All the best to you.
The way you explained it let me wrap my brain around it! Thanks! 😂
Thanks for watching our humble little videos. Have a nice weekend!
Finally, another Real estate agent that openly sports their camo!
Also thank you, your easy-going conversational tone made this video a great way to really grasp the concept
Ha! I’ve been camo a long time...usually Real Tree. I appreciate your taking time to watch and comment. Been slow getting new vids up the last couple weeks. Will get it done soon.
Hey, speaking of camo, shoot me your shipping address and I’ll send you a hat. Just email your name and address to office@RecLand.net. Don’t worry about getting on a list. Won’t happen.
Have a nice weekend!
Thanks for the thorough explanation. Definitely helped me with understanding this further!
Thanks. Hope it was clear enough. I can get a little wordy sometimes!
It's ment so familys can try to keep the home in the family name! 👪 are you anti family?
🤦♂️